@techreport{NBERw2848,
 title = "Precautionary Saving in the Small and in the Large",
 author = "Miles S. Kimball",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "2848",
 year = "1989",
 month = "February",
 URL = "http://www.nber.org/papers/w2848",
 abstract = {The theory of precautionary saving is shown in this paper to be isomorphic to the Arrow-Pratt theory of risk aversion, making possible the application of a large body of knowledge about risk aversion to precautionary saving, and more generally, to the theory of optimal choice under risk. In particular, a measure of the strength of precautionary saving motive analogous to the Arrow-Pratt measure of risk aversion is used to establish a number of new propositions about precautionary saving, and to give a new interpretation of the Oreze-Modigliani substitution effect.},
}